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Auchan Go – a new dimension of retail

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Auchan opens the first self-service store in the Polish market and announces further development of its autonomous concept

WARSAW, Poland, June 29, 2023 /PRNewswire/ — Auchan Retail Poland has launched the first fully autonomous store within its innovative Auchan GO concept. Located in Warsaw, the new cashier-free store is open 24/7 and allows customers to shop in an exceptionally quick, comfortable and seamless way. At the same time, the new format features a wide product offering, that includes a range of fresh products, standard for the Auchan brand. The advanced AI-powered solution used in the store are provided by Trigo, the strategic partner of the project, whose technology enables frictionless shopping and automated operations.

Poland is the first market where the Auchan Go store is fully operational for shoppers, following successful tests of the frictionless concept in France.

“The Auchan GO concept is the latest of our solutions that we introduce to provide our customers with unparalleled comfort and a highly personalized shopping experience,” says Katarzyna Tokarewicz, Director of Transformation and Projects at Auchan Polska. “We are constantly observing how the needs of today’s consumers change dynamically, hence the large variety of shopping paths we offer and our focus on combining digital solutions with new concepts of brick-and-mortar stores. In the case of the Trigo platform introduced in Auchan GO, we particularly appreciate its exceptional accuracy and reliability, as well as the flexibility and scalability of the solution. This advanced system provides the technological capability to efficiently digitise and automate both small and larger store formats, with more shoppers and more product diversity. This approach fits in with our plans, as we treat the newly opened shop as a kind of laboratory. We assume that the Auchan GO concept will constantly evolve to meet the changing expectations of our customers. Ultimately, we plan to open approximately 40 outlets of this type over the next few years.” 

The new Auchan GO – opened in Warsaw at Kasprzaka Street 29 – is the smallest of Auchan’s retail formats. Occupying an area of 75 sqm, up to 30 customers can do their quick and frictionless shopping, with no need to use cash registers.

The store’s rich assortment offers more than 1,000 products, including drinks and snacks, bread, dairy products, frozen food, BIO products, delicatessen, and industrial products. Of particular note is the range of fresh produce – meat, cold cuts and fruit. Auchan GO also offers freshly brewed coffee. More than 40% of the store’s range is Auchan’s private label products, including popular Pewni Dobrego branded products.

How Auchan GO works

Before entering Auchan GO, customers simply need to swipe their payment card and register their phone number. This can be done easily and securely thanks to a conveniently-located terminal at the store’s entrance.

The advanced EasyOut™ Trigo system installed in the store uses specialized vision cameras together with on-shelf sensors. With the highest accuracy, it collects data on every shopper-product interaction undertaken in the store, generating digital shopping baskets in real time to enable seamless checkout. Payment is made automatically just after the customer leaves the store, with a digital receipt then sent to his/her phone.

Importantly, EasyOut™ incorporates an innovative privacy-by-design architecture, which means that no biometric or facial recognition data are gathered or analysed by the system. This ensures shoppers are afforded full data protection in compliance with GDPR regulations. 

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“Trigo is delighted to introduce the first Poland Auchan store, supported by Trigo technology,” says Michael Gabay, co-founder and CEO of Trigo. “Auchan is a prominent and forward-thinking player in the global grocery retail sector. Our inaugural store in Poland represents a significant advancement in frictionless payment options, further elevating the shopping experience. 

“By enabling contactless card payment, we have enhanced the convenience and intuitiveness of the shopping process for a diverse customer base. This cutting-edge solution empowers Auchan Retail to provide an unparalleled shopping experience, resulting in amplified sales and strengthened customer loyalty.”

Trigo’s AI-driven technology platform offers the flexibility to accommodate various grocery formats and a full range of supermarket assortments that further underscores the company’s recognition as a leading European supplier of advanced technology solutions that are shaping the future of retail.

 

 

Trigo provides the technological capability to efficiently digitise and automate both small and larger store formats, with more shoppers and more product diversity

 

About Auchan

Auchan Retail Polska is a large-scale retail chain with French roots, present in Poland since 1996, managing on the Polish market a network of hypermarkets under the Auchan brand, supermarkets under the Auchan Supermarket brand, convenience stores under the Easy Auchan brand, neighborhood stores under the Moje brand Auchan, autonomous stores under the Auchan GO brand, as well as an e-commerce channel. The chain also has franchise stores in the supermarket and hypermarket format. 

About Trigo 

Headquartered in Tel Aviv, Israel, Trigo is a computer vision company that is driving the transformation of traditional retail outlets into smart stores. Leveraging world-class AI experts, Trigo works with retailers to convert their existing stores to enable frictionless shopping experiences and data insights that drive revenue and optimize store operations, all while maintaining stores’ unique character and layout.

Trigo’s advanced retail automation platform identifies shoppers’ movements and product choices with exceptional accuracy, generating digital shopping baskets in real time to enable seamless checkout. Trigo’s GDPR-compliant solution is built with a privacy-by-design architecture so that no biometric or facial recognition data are gathered or analysed. Powered by its proprietary 3D engine, Trigo offers grocery retailers a range of additional solutions through its StoreOS™ suite, including predictive inventory management, pricing optimization, security and fraud prevention, planogram compliance, and event-driven marketing. This layer quickly enables actionable insight that boosts the chain’s efficiency.

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China Telecom Gulf Officially Launches in Saudi Arabia for Business

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HONG KONG, Nov. 23, 2024 /PRNewswire/ — On November 21, China Telecom Gulf was officially launched in Riyadh. This milestone marks a significant step in China Telecom’s efforts to provide deep services under the “Belt and Road Initiative” and to promote the building of a “China-Arab Community with a Shared Future.” It signifies another solid advancement on China Telecom’s path toward internationalization. Mr. Liu Guiqing, Executive Director and EVP of China Telecom Corporation, delivered an opening speech, along with Mr. Fawaz, Representative of Contact Office of Chinese Companies in the KSA, Deputy General Manager of Industrial and Commercial Bank of China Riyadh Branch. Over 100 guests and leaders from the Economic and Commercial Office of Embassy of the PRC of the KSA, Saudi Telecom Company (STC), Bank of China, Huawei, and others attended to witness this momentous occasion.

In his address, Mr. Liu Guiqing emphasized China Telecom’s commitment to openness, cooperation, and mutual benefit. He expressed the company’s willingness to share its experiences in cloud-network integration, cloud transformation, intelligent operations, and technological innovation. China Telecom aims to work closely with various levels of Saudi governments, enterprises, and partners to actively participate in the development of local digital infrastructure, drive the rapid advancement of next-generation information technologies, and establish a robust bridge for cooperation between China and Saudi Arabia in the field of information technology. Leveraging its extensive resources and global operational capabilities, China Telecom plans to bring its strengths in 5G, cloud computing, artificial intelligence, and other fields to provide innovative, high-quality communication products and services to Saudi enterprises, institutions, and consumers.

Mr. Fawaz extended his warm congratulations on the opening of China Telecom Gulf. He highlighted that as a leading global provider of communication services, China Telecom possesses abundant cloud-network resources and mature international service capabilities. The establishment of China Telecom Gulf is a significant step toward supporting the digital transformation of businesses in the region. He expressed confidence that through joint efforts, the company will seize opportunities in the digital era and contribute to Saudi Arabia’s socio-economic development and practical cooperation between China and Saudi Arabia in various fields.

China Telecom showcased its global resources, business capabilities, and its investments and partnerships in the Middle East and Africa. Key services introduced included eSurfing Cloud, computing power solutions, quantum technology, and customized 5G networks. Currently, China Telecom operates branches in 42 countries and regions worldwide, owns 53 international submarine cables, and manages 27 self-operated Internet Data Centers (IDCs). Its cloud-network integrated infrastructure and customer-centric digital service systems provide coverage across the globe.

During the event, China Telecom Gulf signed strategic cooperation agreements with Saudi Telecom Company (STC), Huawei Saudi Arabia, and Baud Telecom Company. The parties committed to deep collaboration, leveraging their respective strengths to provide optimized and convenient digital experiences to Saudi customers.

The establishment of China Telecom’s presence in Saudi Arabia marks a major milestone in the company’s entry into the Middle Eastern communications market, representing a key development in its global strategy. Moving forward, China Telecom Gulf will leverage China Telecom’s robust digital infrastructure and resource integration capabilities. We will collaborate closely with local Saudi enterprises, Chinese businesses expanding internationally, and global companies to strengthen cooperation and enhance exchanges. The company aims to contribute to the growth of Sino-Saudi and Middle Eastern industrial cooperation, continuously offering more smart solutions for the development of the Middle East’s digital economy, while striving to become a world-class provider of digital and intelligent technology services.

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Redefining Financial Frontiers: Nucleus Software Celebrates 30 Years with Synapse 2024 in Singapore

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SINGAPORE, Nov. 23, 2024 /PRNewswire/ — The thriving IndiaSingapore partnership in banking and technology reached a new milestone as Nucleus Software celebrated 30 years of transformative innovation at Synapse 2024, held in Singapore. The event underscored the company’s role in redefining financial services across Southeast Asia (SEA) and the globe, bringing together leaders in finance and technology to explore a shared vision for the future of banking.

Synapse 2024 celebrated 30 years of Nucleus Software’s leadership in driving transformative change across Singapore and Southeast Asia’s financial ecosystem. The event also shone a spotlight on the Global Finance & Technology Network (GFTN), an initiative supported by the Monetary Authority of Singapore (MAS) to champion responsible technology adoption. The event highlighted the deepening synergies between India and Singapore, driven by their shared commitment to innovation, cross-border collaboration, and financial inclusion. As the financial services sector undergoes rapid evolution with advancements in artificial intelligence, blockchain, and digital banking, these partnerships are setting the stage for a more connected, resilient, and inclusive global ecosystem.

Vishnu R. Dusad, Co-founder and Managing Director of Nucleus Software, reflected on the milestone: “For over 30 years, we’ve had the privilege of aligning our journey with Singapore’s ascent as a global financial powerhouse. Back in 1994, when we chose to go East instead of West, it was a bold and emotional decision—guided by our belief in Singapore as a hub for innovation and collaboration. We saw then what remains true today: Singapore is at the heart of the global financial landscape, a place where new ideas take root, and partnerships thrive.”

The event brought together a distinguished array of participants, highlighting the transformative potential of IndiaSingapore collaboration. Mr. Piyush Gupta, CEO of DBS Group and the Guest of Honor, set the tone for the event with his opening remarks, emphasizing the transformative role of big tech in reimagining scalable, customer-centric financial services in the digital age.

Following his address, key speakers enriched the discussions with their insights. Mr. Sopnendu Mohanty, Chief Fintech Officer at the Monetary Authority of Singapore and Group CEO-Designate of The Global Finance & Technology Network (GFTN), underlined the importance of fostering responsible technology adoption and building inclusive financial ecosystems. Mr. Vinod Rai, globally respected public policy expert, Distinguished Visiting Research Fellow at the National University of Singapore, and former Comptroller and Auditor General of India, shared his perspectives on governance and policy frameworks in financial systems. Mr. S.M. Acharya, Chairman of Nucleus Software and former Defence Secretary of India, offered a visionary outlook on leveraging technology to modernize and secure banking frameworks. Finally, Mr. Pieter Franken, Co-founder and Director of GFTN (Japan), a global FinTech pioneer and deep tech innovator, discussed the future of decentralized finance and its implications for the financial sector.

The event showcased the transformative role of technology in global financial systems, emphasizing innovations that set benchmarks for scalability and inclusivity. Panelists discussed the importance of localized solutions, the challenges of cross-border integration, and leveraging dual business models to optimize capital and foster public participation. The dialogue highlighted the need for common standards, unified frameworks like APIs, and collaborative efforts to accelerate financial inclusion and drive global connectivity in the digital age.

For 30 years, Nucleus Software has consistently introduced advanced lending and banking solutions that support financial institutions’ evolving needs in Singapore and South East Asia. Driven by lean development methodologies like Acceptance Test-Driven Development (ATDD) and Continuous Integration/Continuous Delivery (CICD), Nucleus Software continues to push boundaries in efficient, flexible, and secure financial technology.

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ROYAL CANADIAN MINT REPORTS PROFITS AND PERFORMANCE FOR Q3 2024

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OTTAWA, ON, Nov. 22, 2024 /PRNewswire/ — The Royal Canadian Mint (the “Mint”) announces its financial results for the third quarter of 2024 that provide insight into its activities, the markets influencing its businesses and its expectations for the next 12 months.

“As the markets continue to change, the Mint is proving its ability to seize on new opportunities thanks to its diversified structure and flexible business strategy” said Marie Lemay, President and CEO of the Royal Canadian Mint. 

The financial results should be read in conjunction with the Mint’s annual report available at www.mint.ca . All monetary amounts are expressed in Canadian dollars, unless otherwise indicated.

Financial and Operational Highlights

  • The financial results for the third quarter of 2024 were ahead of target and higher than 2023 levels. Higher gold market pricing and foreign circulation volumes combined with lower fixed costs were the main drivers for the quarter over quarter increase.  These increases were partially offset by lower than expected bullion volumes from the continued soft demand in the global bullion market. The Mint expects to meet its financial goals for 2024, as set out in its 2024-2028 Corporate Plan, the Mint’s Leadership team continues to actively monitor its status.
  • Consolidated revenue decreased to $252.7 million in 2024 (2023 – $360.6 million). 
    Revenue from the Precious Metals business decreased to $217.6 million in 2024
    (2023 – $328.4 million):
    • Gold bullion volumes decreased 38% quarter over quarter to 106.1 thousand ounces (2023 – 170.1 thousand ounces) while silver bullion volumes decreased 20% to 2.7 million ounces (2023 – 3.4 million ounces).
    • Gold and silver market prices increased quarter over quarter by 27% and 23%, respectively.
    • Sales of numismatic products decreased 12% quarter over quarter mainly due to the high demand in 2023 for the Queen Elizabeth II’s Reign products.
  • Revenue from the Circulation business increased to $35.1 million in 2024 
    (2023 – $32.2 million):
    • Revenue from the Foreign Circulation business increased 77% quarter over quarter, a reflection of higher volumes produced and shipped in 2024 as compared to 2023.
    • Revenue from Canadian coin circulation products and services decreased 12% quarter over quarter as fewer coins were required to replenish inventories, combined with lower program fees in accordance with the memorandum of understanding with the Department of Finance.
  • Overall, operating expenses decreased 27% quarter over quarter to $28.3 million (2023 – $36.0 million) mainly due to planned reductions in consulting and workforce expenses.

Consolidated results and financial performance 
(in millions) 

13 weeks ended

39 weeks ended

      Change

         Change

September
28, 2024

September
30, 2023

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$

%

September
28, 2024

September

 30, 2023

$

%

Revenue

$

252.7

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$ 360.6

(107.9)

(30)

$    861.2

$ 1,841.8

(980.6)

(53)

Profit (loss) for the

     period

$

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5.7

 

$   (5.8)

 

11.5

 

 

(198)

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$      24.1

 

$      15.0

 

9.1

 

61

Profit (loss) before
     income tax and
     other items 1

$

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1.4

$   (8.7)

10.1

 

(116)

$      12.3

$      23.4

(11.1)

(47)

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Profit (loss) before
     income tax and
     other items margin2

0.6 %

(2.4) %

1.4 %

1.3 %

(1) Profit (loss) before income tax and other items is a non-GAAP financial measure. A reconciliation from profit for the period to profit before income tax and other items is included on page 13 of the Mint’s 2024 Third Quarter Report.

(2) Profit (loss) before income tax and other items margin is a non-GAAP financial measure and its calculation is based on profit before income tax and other items.

 

As at

             September 28, 2024

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December 31, 2023

$ Change

% Change

Cash

$

58.4

$

59.8

(1.4)

(2)

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Inventories

$

71.5

$

68.8

2.7

4

Capital assets

$

174.2

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$

173.0

1.2

1

Total assets

$

376.8

$

380.4

(3.6)

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(1)

Working capital

$

99.2

$

97.8

1.4

1

As part of its enterprise risk management program, the Mint continues to actively monitor its global supply chain and logistics networks in support of its continued operations. Despite its best efforts, the Mint expects changes in the macro-economic environment and other external events around the globe to continue to impact its performance in 2024. The Mint continues to mitigate potential risks as they arise through its enterprise risk management process.

To read more of the Mint’s Third Quarter Report for 2024, please visit www.mint.ca.

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About the Royal Canadian Mint
The Royal Canadian Mint is the Crown corporation responsible for the minting and distribution of Canada’s circulation coins. The Mint is one of the largest and most versatile mints in the world, producing award-winning collector coins, market-leading bullion products, as well as Canada’s prestigious military and civilian honours.  As an established London and COMEX Good Delivery refiner, the Mint also offers a full spectrum of best-in-class gold and silver refining services.  As an organization that strives to take better care of the environment, to cultivate safe and inclusive workplaces and to make a positive impact on the communities where it operates, the Mint integrates environmental, social and governance practices in every aspect of its operations. 

For more information on the Mint, its products and services, visit www.mint.ca. Follow the Mint on LinkedInFacebook and Instagram

FORWARD LOOKING STATEMENTS AND NON-GAAP FINANCIAL MEASURES

This Earnings Release contains non-GAAP financial measures that are clearly denoted where presented. Non-GAAP financial measures are not standardized under International Financial Reporting Standards (IFRS) and might not be comparable to similar financial measures disclosed by other corporations reporting under IFRS.

This Earnings Release contains forward-looking statements that reflect management’s expectations regarding the Mint’s objectives, plans, strategies, future growth, results of operations, performance, and business prospects and opportunities.  Forward-looking statements are typically identified by words or phrases such as “plans”, “anticipates”, “expects”, “believes”, “estimates”, “intends”, and other similar expressions. These forward-looking statements are not facts, but only estimates regarding expected growth, results of operations, performance, business prospects and opportunities (assumptions). While management considers these assumptions to be reasonable based on available information, they may prove to be incorrect. These estimates of future results are subject to a number of risks, uncertainties and other factors that could cause actual results to differ materially from what the Mint expects. These risks, uncertainties and other factors include, but are not limited to, those risks and uncertainties set forth in the Risks to Performance section of the Management Discussion and Analysis in the Mint’s 2023 annual report, as well as in Note 9 – Financial Instruments and Financial Risk Management to the Mint’s Audited Consolidated Financial Statements for the year ended December 31, 2023. The forward-looking statements included in this Earnings Release are made only as of November 20, 2024 and the Mint does not undertake to publicly update these statements to reflect new information, future events or changes in circumstances or for any other reason after this date.

For more information, please contact: Alex Reeves, Senior Manager, Public Affairs, Tel: (613) 884-6370, [email protected] 

 

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